25. Investor choice (S16-4) Suppose that new security designs could be patented.11 The patent holder could restrict

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25. Investor choice (S16-4) Suppose that new security designs could be patented.11 The patent holder could restrict use of the new design or charge other firms royalties for using it. What effect would such patents have on MM’s capital-structure irrelevance theory?

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Principles Of Corporate Finance

ISBN: 9781264080946

14th Edition

Authors: Richard Brealey, Stewart Myers, Franklin Allen, Alex Edmans

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